Readers react: Leave poor Larry Ellison alone!
Last week, I wrote a column suggesting that Larry Ellison reach into his pocket and donate $600,000 to help the Portola Valley schools. After all, while he was well within his right to appeal the valuation on his mega-estate, his victory knocked $300,000 off the school’s annual budget. Certainly the highest paid CEO in the U.S. could help out for a couple of years, right?
There were several folks who commented online who seemed in agreement with me. But the outpouring of e-mails I got were running well in favor of Uncle Larry.
A sampling:
“Like it or not, the school’s financial problems are not Mr. Ellison’s problems any more than your school’s problems are yours. But we do have a stake in the health of our schools and if Mr. Ellison wants to help by writing a check, or you want to help that way, that is certainly fine. But don’t tell him or me that we should pay just because we have a lot. I do not expect any more from Mr. Ellison than I do anyone else. And don’t blame Ellison for the mistakes made by the property tax people! That’s like blaming you for the govt’s revenue loss if you beat a traffic ticket.”
And:
“It’s difficult for a “typical” suburban reader to get passionate about anything in the enclave of Portola Valley. You write, that to save $500,000 the Portola Valley School District cut the equivalent of four jobs. Nice pay rate—what’s a hard working Bay Area News Group staff writer getting paid for a ten month work year these days? (my note: They cut about 4 jobs that saved $280,000. Factor in benefit costs and that’s not a huge salary)
And:
“I disagree with your ideas in your column on Sept 3 suggesting that Larry Ellison donate money to the Portola Valley School District. Mr. Ellison did not receive a windfall. His property was over assessed. The district got the windfall. Now, the current assessed value of his property in Woodside puts considerable money into the school districts. The Portola Valley School District has funding of about $15,000 per student. (750 students and $10 million budget) It does not need a donation from Mr Ellison.”
And:
“Your column on Ellison is a little off. First of all I’m not rich like Ellison and I’m not young and liberal like you. (my note: Young? My 39-year-old knees say otherwise) Every time the government tries to over-tax the rich they end up getting less.Over tax business and they will pass the cost on to you or they will move out of the state or better yet the country !…The rich don’t keep their money in a tin cans in the back yard. They buy and build things. How many thousands of tax paying people did Ellison employ over the six years building his estate ? The lesson here is that Ellison knows how to manage his money and local governments should learn how to manage theirs.”
And:
“Mr. Ellison is not responsible for the short fall. With all the money floating in Portola Valley why don’t the parents from the schools pitch in? I am sure there are many school districts that have shortfalls in their budgets that can not be solved so easily. I am not to inclined to feel sorry for a school district that clearly has the parents with money who could solve this problem. Does Mr. Ellison even have kids that attend any of those 2 schools? I see the parents were able to raise over $100,000.”
However, I wasn’t totally without my defenders:
“Gee, I hope Ellison does not follow your suggestion of contributing to the Portola Valley schools as it would destroy my image of him. Ellison is my poster boy of all that is wrong with America today. His total dedication to greed and selfishness with no concern for the stockholders or anyone but himself.”
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I actually fell sort of in the middle on this one. As a mom with a son starting Kindergarten in San Jose, it’s hard for me to have sympathy for the Portola Valley School District. That being said, if the devaluation of Ellison’s property is largely based on his ridiculous feudal Japanese manor that no one else would really like, he should have taken the tax hit.
Hmm maybe I can paint my house teal and make it look like its made of candy — then ask Santa Clara County to reasses my property taxes??
I guess it is all relative?
During the height of the recent bogus price spike in oil (you did hear a study came out that seems to correlate to speculation as driving the price up?) Sean P diddy Puffy Combs ranted on youtube (diddy blog #12) that he was back flying American because, as he states, the cost of flying his private jet from NY to LA round-trip cost 200K-250K in fuel twice a month. The hardships we all must face in our lives I guess.
Now, I can understand Uncle Larry not wanting to set a precedent and have ‘old friends’ hitting him up for money if he opens his wallet.
HOWEVER, my understanding of the philanthropic rate of Silicon Valley suxs.
In general and especially during rougher times it would be nice to see some anon. donations that might help out here and there.
Thanks for the post! great content! look forward to more!
Thanks for the info - I wonder how many sites/companys use this in their practice?